Malawi economic crisis deepens: 60 lose jobs at Daily Times

Feb 26, 2016 Business 77
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Malawi Economic Crisis

The Times Group, the company behind Daily Times, Malawi News and Times TV says it has been forced to axe workers by the current economic depression that has hit Malawi which the company says has created a “hostile economic weather” that is “unforgivingly unhealthy” for operations.

Malawi Economic Crisis
The Times Group to fire workers

“As a business largely propelled by imported raw materials, the depreciation of the dollar from MK450 to MK750 in the last 24 months, has created a hostile economic weather that is unforgivingly unhealthy to sustain our growth drive,” reads part of the statement issued by The Times Group.

The media conglomerate was however shy to confirm reports that close to 60 workers will lose their jobs. “Times Group has taken a decision to resize and reorganize its organizational structure with the view to balance the business sustainability,” said the company in the statement.

As the meltdown continues to sprout its teeth, activists and opposition members have intensified their calls for Mutharika to call it quits, saying he has failed to maneuver the country through a sustainable recovery path.

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77 Comments

  1. Kodi akapolo inu, mukamati Peter walephera, walephera chani? Pati? Liti? Peter ndi amene anachita cashgate? Kapena ma floods? Mwina kuchititsa xenophobia ku RSA? Musamale! Peter samagwetsa mvula mwamva.

  3. Malawi its not apoor country.bt we people we are just nothng.for example.this districts Mangochi,machinga,zomba,chiradzulo,blantyre,mulanje,chikhwawa,msanje,karonga,salima,nkhotakota,nkhatabay mwanza.part of balaka,so count this dctrcts u will see that they are just half of all districts in malawi.what iwant to say is people of this area they dnt knw how use water.am telling u if u wil go to mangochi near lake malombe u wil see people complaining of rain.bt stil they hav money that they can buy treadlepump and pump water from malombe.maboma amenewa akhoza kudyesa malawi yonse koma vuto kudalira boma chilichonse ndi toilet tissue omwe.oh yes even toilet tissues we waiting for the govt.lets 4get about zolandira,lets start producng.malawians even bible says.BLESS THE HAND THAT GIVES THAN THE HAND THAT RECIEVES.so alwyz we reciev alwyz we poor.watch out.

  8. Don’t compare Malawi with other countries. You know nothing about how many people are poor in south Africa. Our country could be better people who use much of their logic by creating their own work or go for farming. If someone has a farm will sell the crops which will generate money.

  9. I’m very sorry with some sick minded Malawians who have got a problm of Comparison syndrome, hw cn u compare Malawi and Southa frica, pls Malawi is not like South africa hey!!

  12. Achoseni ntchitoyo bola osawakhapa ndalamazawozo,nanuso akakupasani zanuzo gwirisani ntchito mutu nditochepato ntchito kusautsa.Mudzandi biliva pakutha kwa zaka zitatu.Nanunso ife timanguona,tv, courrier,news paper chilichonse mupangenawo taonani mwapanga pa mwana kuvutisa anthu.

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  15. Mulungu kuzera mwa mwana wanu yesu khristu tithandizeni kuti ife ana anu tisavutike sikukulamulani koma kupempha, athandizeni a times tv, times news paper kuti abale ndi alongo omwe amagwira ntcito apitilize kugwira kuti ana ao ndi abale azithandizika, dalisaninso dziko la malawi. Mulungu wathu, mulemekezeke pamene mukunva pempha la munthu ocimwane, athandizeni kuzera mwa mwana wanu yesu christu amen

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  20. I think blaming the president for the economic crisis is not only fare but unreasonable knowing that we depend on donors and running the country with no donor support z not eazy.

  30. #Evance u can’t compare Malawi to AS, Malawi iz number 2 poorest country in African, while iz Richest country, if they loose there jobs they will find another 1 soon,Bt here in Malawi that 60 ppo some they will die jobless #Think b4 comment

    3. Yes man we can’t compare…but if RSA high profile country is under siege with economy. ..who is Malawi?and more over its a newspaper. ..we get news from Internet nowadays….There’s more things to do out there…be inteprenuer and be boss on ur on… they can die jobless if they want but from my perspective NO..

  32. Malawians be cool.
    It’s not unusual effect because the economic melt down is all over the world.
    Rich nations are also in economic mess.
    The turn around will come soon, therefore don’t loose focus.

    2. Yes we can’t copare….so if high profile country like RSA is under siege about economy…who is Malawi to worry about job losing…m not a supporter for any president….jst look the graphic of world economy.

    6. Even in RSA, Zuma is under fire. During the state of national, everyone expected Zuma to resign. So you are talking of losing job in Malawi… Kkkkk order of the day

    7. Thats the problem with som sick minded malawian’s, comparison syndrome. If i may ask u, does Malawian economic crisis same lavel like South african? Is there hunger in south africa? Is south africa poor like Malawi? I advise u Mr Evance to use yua brain wisely pls

    9. Thn u don’t know more about South Africa Mr Kay…RSA is under pressure now…ask any1 from RSA…they will tell u….Limpopo…West Cape..eastern cape Ruston burger are declared disaster area because of drought.so if this happened to RSA wht more Malawi ….are u in Africa?

    10. Thn u don’t know more about South Africa Mr Kay…RSA is under pressure now…ask any1 from RSA…they will tell u….Limpopo…West Cape..eastern cape Ruston burger are declared disaster area because of drought.so if this happened to RSA wht more Malawi ….are u in Africa?

  35. Evn if ur redundance wz already ur plan, but u say gvt fails in order to calm those who u wanna axe!mmmmm too much buying some companies dat makes u fail to manage all!

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